Tuesday, 6 March 2012

Citigroup: Unable to penetrate resistance


C again unable to penetrate the resistance around $34.40.
Need to consider opening a short position for a short-term hedge on the existing long position.


Outcome:

6 Mar:Opened SHORT at $32.40
7 Mar: Closed at $34.85
Loss $2.45, 7.6%

12 Mar:Opened SHORT at $33.92
13 Mar: Closed at $35.18
Loss $1.26, 3.7%

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